Vodafone reported a slowdown in its group service revenue growth to 1.8% in the third quarter from 2.5% in the second, driven by declines in Germany, Italy and Spain. Interim chief executive Margherita Della Valle, who stepped up after Nick Read resigned in December, kept full-year guidance unchanged, but said the recent decline in revenue in Europe showed Vodafone could do better. The mobile and broadband operator reported a worsening performance in Germany, it biggest market, with a fall of 1.8% in service revenue, reflecting customer losses after it was badly prepared for past changes in legislation.
German chip supplier ZF and American chipmaker Wolfspeed Inc are expected to announce on Wednesday plans to build an electric vehicle (EV) chip plant in the Saarland region, according to three sources close to the matter. German Chancellor Olaf Scholz and Economy Minister Robert Habeck will attend the event, which has been advertised as a briefing on the future of the site on which the new chip factory will be built, a closed-down coal plant. A spokesperson for ZF declined to comment, and Wolfspeed was not immediately available for comment.
The price of the average property in January was £258,297, a decline of 0.6% on December.